Business
LivePerson Announces Second Quarter 2022 Financial Results
-- Revenue of $132.6 million, up 11% Year over Year – -- Adjusted EBITDA at the high end of guidance – -- Signed 45 new logo deals, including one of the
About this update from Liveperson, Inc.
[{"type":"text","content":"-- Revenue of $132.6 million, up 11% Year over Year –\n-- Adjusted EBITDA at the high end of guidance –\n-- Signed 45 new logo deals, including one of the largest new logo deals in LivePerson's history --\n-- Maintains expectation of positive cash flow in the fourth quarter --\nNEW YORK, Aug. 8, 2022 /PRNewswire/ -- LivePerson, Inc. (NASDAQ: LPSN) (\"LivePerson\" or the \"Company\"), a global leader in conversational AI, today announced financial results for the second quarter ended June 30, 2022.\n\n \n \n \n \n \n \n\n \nSecond Quarter Highlights\nTotal revenue was $132.6 million for the second quarter of 2022, an increase of 11% as compared to the same period last year. Within total revenue, business operations revenue for the second quarter of 2022 increased 12% year over year to $123.4 million, and revenue from consumer operations decreased 7% year over year to $9.1 million.\nLivePerson signed 5 seven-figure deals and 104 deals in total for the second quarter, comprising of 45 new and 59 existing customer contracts. Trailing-twelve-months average revenue per enterprise and mid-market customer increased 23% for the second quarter to another record high of $660,000, up from approximately $535,000 for the comparable prior-year period.\n\"For the second quarter, LivePerson delivered on its commitments to re-accelerate new logo growth while cutting costs. We signed 104 total deals in the second quarter, including 45 new logos, which was up 55% Year over Year and up 73% sequentially, and achieved adjusted EBITDA at the top end of our guidance range,\" said founder and CEO Robert LoCascio. \"We continue to make substantial changes to our P&L — focusing on the most differentiated, high value components of our business — intended to drive high gross margins, strong operating margins, and high quality revenue growth. We believe we are putting the right operating framework in place to drive innovation and grow the company in a strong and sustainable way.\"\n\"Our second quarter results demonstrate strong execution against our profitable growth plan, \" added CFO John Collins. \"In addition to expense reductions, we have begun eliminating low-quality sources of revenue in order to further optimize the overall health of the P&L. While we expect the magnitude of both the expense reductions and the elimination of low-quality revenue to im...